How a strategic audit partnership ensures client loyalty for Anthony Russel Ltd
About Anthony Russel
Anthony Russel Ltd has a 13-strong team of chartered accountants and business development advisers.
The Essex-based firm primarily serves small owner-managed
businesses with a turnover of £250,000-£3 million.
The challenge: Retaining clients after ending in-house audit facility
Accountancy firm Anthony Russel Ltd offers a range of accountancy and business advisory services, including audits.
The company faced a dilemma when one of its two Responsible Individuals (RIs) planned retirement, meaning it would be more difficult to provide audits due to regulatory standards.
This raised the risk of Anthony Russel losing its modest portfolio of audit clients, who rely on the firm for more than just audits. To maintain those client relationships, the company sought an alternative way to fulfil its clients’ audit needs.
Anthony Russel decided to partner with another company specifically for audit services. Crucially, the firm needed assurances this partner would not offer competing non-audit services. This strategic move would allow Anthony Russel to continue supporting its clients comprehensively, without the threat of losing them to competitors.
We were looking for a solution that would enable us to keep working with our clients, while their audits were done elsewhere by a firm that wasn't interested in competing for the non-audit services we provide.
The solution: Partnering with audit specialists Byrd + Link
Anthony Russel chose Byrd + Link as its audit service partner from a shortlist of three providers.
This decision was based on a recommendation from a trusted source, combined with competitive pricing and a non-compete agreement. Byrd + Link’s exclusive focus on auditing was a positive indicator of both the company’s audit capabilities and lack of interest in competing with Anthony Russel’s non-audit services.
The partnership kicked off in January 2022, beginning with Byrd + Link meeting with three of Anthony Russel's clients in Essex to ensure everyone was comfortable with the new arrangement.
Byrd + Link have now successfully completed two years of audits for three of Anthony Russel’s clients. When some teething problems arose while adjusting to a new working model, Byrd + Link worked closely with Anthony Russel and the clients to resolve these. They were flexible in adapting the mix of on-site and remote work to suit client needs, and ensuring as smooth a process as possible.
Byrd + Link ticked the right boxes as the solution we needed for providing audit services. And our clients are happy with the audit process.
Working with Byrd + Link means we’ve been able to keep our clients, which was our main priority. And our clients have their audits done by a firm we know and trust, that isn’t interested in poaching any work from us.
The outcome: Sustaining client relationships and ensuring quality service
Two years after adopting a strategic partnership for audit services, Anthony Russel has successfully met its goal of retaining clients while adjusting its service offerings.
Partnering with Byrd + Link enables Anthony Russel to continue serving its clients without having in-house audit capabilities, yet without the risk of competition for its non-audit services.
An additional benefit of the arrangement is external validation of Anthony Russel's accountancy and tax work. This has affirmed the quality of its services, providing peace of mind to both the firm and its clients.
I'd highly recommend Byrd + Link to other accountancy firms who are unable or unwilling to provide audit services directly. Partnering with them has enabled us to keep our clients when we decided to resign our audit status.
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Concerned about losing clients because you can't offer in-house audit services? Contact Byrd + Link to explore a partnership that extends your services without risking your client relationships.
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